The High Court upheld a trial court order of 2017, which directed United India Insurance to pay Rs 5 lakh to the insured.

LIC can continue its strategic investment in other firms beyond 15 per cent — especially in Corporation Bank and LIC Housing Finance. Sathe said the regulator doesn’t want LIC disinvestment in any firm to create disruption.

The world’s largest insurance platform is gearing up to start its India operations in Mumbai by early 2017.

IRDA has allowed a hike of 30 per cent in the case of public commercial vehicles with GVW (gross vehicle weight) of 40 tonnes, 25 per cent for GVW of 20-40 tonnes and 15 per cent for GVW of 12-20 tonnes.